The deadline for high school seniors to pick their college happens next month on National College Decision Day.
For many students and their families, financial aid is the most important factor when selecting a school.
College hopefuls should try to maximize sources of aid like scholarships and minimize the amount they’ll have to borrow.
“Don’t be too shocked by the sticker price of college,” Bjorn Amundson with Quarry Hill Advisors in St. Paul said, “Almost all colleges are going to have a variety of ways they can help you through scholarships or aid. In addition to subsidized student loans, there’s a Parent PLUS loan, which allows the parent to cosign with the student, and it will have a slightly higher interest rate.”
Starting in July, federal student loan limits will be reduced, making scholarships and grants even more important.